The Harbor International Small Cap Fund is subadvised by Baring International Investment Limited and invests primarily in equity securities, principally common and preferred stocks, of small cap foreign companies.

The Subadviser's investment strategy focuses on identifying companies that have unrecognized earnings growth, such as where earnings growth prospects are better than market expectations or where current earnings growth is not fully reflected in the stock price. We define small cap companies as those with market capitalizations that fall within the range of the MSCI EAFE (Europe, Australasia and Far East) Small Cap (ND) Index, provided that if the upper end of that range falls below $5 billion, we will continue to define those companies with market capitalization between the upper end of the range of the Index and $5 billion as small cap companies.

As of Quarter Ended 12/31/2018

YTD

1 Year

5 Year

10 Year

Since Inception

-19.66%

-19.66%

N/A

N/A

5.20%

Growth of a Hypothetical $10,000 Investment

Potential Risk & Return - International & Global Funds

Minimum Investment

Investors who wish to purchase, exchange or redeem shares held through a financial intermediary should contact the financial intermediary directly. The minimum initial investment amounts are shown below. The minimums may be reduced or waived in some cases. There are no minimums for subsequent investments.

Account Type

Investor Class

Regular

$2,500

Individual Retirement Account (IRA)

$1,000

Custodial

$1,000

Performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the past performance data shown. Investment returns and the value of an investment will fluctuate, and an investor's shares, when sold, may be worth more or less than their original cost. You can obtain performance data current to the most recent month-end (available within seven business days after the most recent month-end) by calling 800-422-1050 or visiting harborfunds.com.

The Harbor Funds performance shown assumes the reinvestment of dividend and capital gain distributions and is net of management fees and expenses. Returns for periods less than one year are not annualized.

From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

The MSCI EAFE Small Cap (ND) Index is an equity index which captures small cap representation across developed markets countries around the world, excluding the US and Canada. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Investors should carefully consider the investment objectives, risks, charges and expenses of a Harbor fund before investing. A summary prospectus or prospectus for this and other information is available at harborfunds.com or by calling 800-422-1050. Read it carefully before investing.

All trademarks or product names mentioned herein are the property of their respective owners.

The Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.95%, 0.87%, 1.20%, and 1.32% for the Institutional Class, Retirement Class, Administrative Class, and Investor Class respectively, through February 28, 2019. Only the Fund's Board of Trustees may modify or terminate this agreement.

Subject to an expense limitation agreement (excluding interest expense, if any) through February 29, 2020

Restated to reflect current fees.

Restated to reflect current fees.

The Adviser has contractually agreed to limit the Fund's operating expenses, excluding interest expense (if any), to 0.95%, 0.87%, 1.20%, and 1.32% for the Institutional Class, Retirement Class, Administrative Class, and Investor Class respectively, through February 28, 2019. Only the Fund's Board of Trustees may modify or terminate this agreement.

Ex-Date. The date on which a Fund's net asset value (NAV) will fall by an amount equal to the dividend and/or capital gain distribution plus or minus any change in the value of the Fund's holdings.

About Expense Ratios: All mutual funds have expense ratios which represent what shareholders pay for operating expenses and management fees. Expense ratios are expressed as an annualized percentage of a fund's average net assets paid out in expenses. Net expense ratios reflect adjustments due to voluntary or contractual fee waivers or expense reimbursements. Expense ratio information is as of the Fund's current prospectus, as revised and supplemented from time to time.